February 16, 2009 (InfoPowa News) — Major land and online U.K. sports betting companies are combining to launch a charity for grassroots sport that could help fund a new generation of Olympic stars, reports Business Times Online this week.Those involved include Ladbrokes, Betfair and Sportech, and the target is to raise at least £10 million.
In introducing the project, the three companies are hoping that other reputable gambling companies will join them in setting up a charity trust to raise cash for British sportsmen and women. Full details of the scheme are currently pending a formal announcement, but the companies involved have also been talking to the British government about the project.

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